DeFiChain.in : Learn, Empower & Earn $DFI

DeFiChain.in : Learn, Empower & Earn $DFI

Embark on a DeFiChain Journey: Explore, Earn, and Influence. Dive into DeFiLearn Quests for Knowledge, Tokens, and Governance Power.

The problem DeFiChain.in : Learn, Empower & Earn $DFI solves

Registration and Onboarding:
Users sign up on the DeFiChain.in platform by metamask and DMC network.

Educational Quests and Tasks:
Users access a variety of quests available on the platform.
Quests cover diverse topics such as social media interaction, bridge usage, token swaps, reading documentation, setting up nodes, and understanding wallets.
Each completed task earns the user XP (Experience Points) based on its complexity.

XP Conversion to DFI Tokens:
Users accumulate XP by completing quests.
They can convert these XP into DFI tokens based on a predefined conversion rate.
This incentivizes continuous learning and participation.

Staking Mechanism:
Users have the option to stake their earned DFI tokens on the platform.
Staking periods vary (e.g., 3 months, 6 months), each offering different Annual Percentage Yields (APYs).
Stakers receive rewards based on the staked amount and duration.

Governance Participation:
Staked tokens grant users governance power.
They can participate in voting for various proposals within the DeFiChain ecosystem.

How it Works:
buy_value = DFI's bought on that transaction
age = how many days old transaction
so let's take an example:
transactions->

No. | Action | Amount | Age |
1 Buy 100 10
2 Buy 50 8
3 Sell 50 6
4 Buy 10 3
5 Sell 60 2

1st transacton: (buy)
buy_value * 10% of age
=> 100 10% 10
=> 100 value...

2nd transaction: (buy)
buy_value * 10% of age
=> 50 10% 8
=>40
prev_value + this_value
100 + 40 = 140 value...

3rd transaction: (sell)
sell_value * 10% of age
=> 50 10% 6
=> 30
prev_value - this_value
140 - 30 = 110 value...

4th transaction: (buy)
buy_value * 10% of age
=> 10 10% 3
=> 3
prev_value + this_value
110 - 3 = 107 value...

5th transaction: (sell)
sell_value * 10% of age
=> 60 10% 2
=> 12
prev_value - this_value
107 - 12 = 95 value...

Balance = 100+50-50+10-60 => 50
Voting Power = value / balance;
Voting Power = 95 / 50 = 1.9 approx( 2 )........

thus his voting power is 2.
DeFiChain.in continues to evolve....

Challenges we ran into

During the development phase, one significant hurdle we encountered was ensuring a seamless and secure process for converting XP (Experience Points) earned by users into DFI tokens. We faced an issue where the conversion algorithm occasionally resulted in discrepancies, leading to incorrect token allocations for some users.

Resolution:

Identification of the Issue: Our team meticulously reviewed the conversion algorithm, analyzing input-output datasets to pinpoint the discrepancies.
Testing and Debugging: We conducted extensive testing in a controlled environment to simulate various user scenarios and identify the root cause of the conversion errors.
Algorithm Refinement: Based on the findings, we refined the conversion algorithm, implementing fail-safes and verification steps to ensure accurate token allocations.

Tracks Applied (2)

DApp Ecosystem Expansion

DeFiChain.in is a crusial player in expanding the DApp ecosystem. It introduces new users to DApps through educational q...Read More

DFI Token

DeFiChain.in serves as an educational and engagement platform within the DFI token track. It incentivizes learning throu...Read More

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